Secondhand apartment transactions down for 4th month in a row
According to REINS, 2,532 second-hand apartments were sold across greater Tokyo in July, down 10% from the previous month and down 14.6% from last year. This is the 4th month in a row to see a decline from one year prior.
The average apartment sale price across greater Tokyo was 26,250,000 Yen, down 4.3% from the previous month but up 2.1% from last year. The average price per square meter was 410,100 Yen, down 3.6% from the previous month but up 4.3% from last year. The average building age was 19.71 years.
1,227 apartments were sold in the Tokyo Metropolitan Area, down 11.2% from the previous month and down 12.7% from last year. This is also the 4th month in a row to see a decline from one year prior. The average apartment sale price was 31,990,000 Yen, down 6.3% from the previous month and showing no change from last year. The average price per square meter was 544,700 Yen, down 3.3% from the previous month but up 4.9% from last year. The average building age was 18.59 years.
The average sale price in central Tokyo’s 3 wards (Chiyoda, Chuo and Minato) was 44,950,000 Yen, down 9.4% from the previous month and down 0.9% from last year. The average price per square meter was 912,600 Yen, up 5.0% from the previous month and up 14.8% from last year. The average building age was 16.36 years.Read more